The collapse of FTX Exchange

[crazed 9.6]

- On Friday, Sam Bankman-Fried resigned in disgrace, as crypto giant FTX filed for bankruptcy.
- About $2B of customer funds have reportedly vanished from crypto exchange.
- FTX said on Saturday it had seen 'unauthorized transactions' removing funds.


Looks like some shady dealings going on at FTX
The CEO Sam Bankman may have made off with a couple billion worth of his client's Tokens.
Lost it all in the Caribbean some place :eek: or so the rumors are telling us. The investigation is still unfolding.
The Tokens are gone at any rate (2 billion $$ worth).

This was one of those Exchanges that did not give their clients private access to their keys. In otherwords, the CEO Sam, had full access to the works.

Never join an Exchange that does not give you private key.
Never keep a substantial amount of crypto in an online Wallet, private keyed or not.
Use an off-line Wallet for substantial amounts of crypto currency investments.

This won't do good for non-centralized cryptocurrency. The government will use this as an excuse to let themselves step in with yet more regulations.
They will use the excuse --> 'How can the government allow this kind of thievery? '
Unless off course it is them doing the thievery :eek:

Not a good thing for any of us :(


And Crypto value has been dropping rapidly since all this came to surface early last week, when Coindesk first reported.

[crazed 9.6]

now they are saying that Sammy boy has fled the USA

[crazed 9.6]

black hole of corruption
'FTX was political corruption disguised as crypto business with connections to Democrats, Ukraine, WEF and federal oversight agencies'

watch the waters, they are full of sharks and rip tides.

[realdeal]

Democrats lmao they are into everything crooked. Those poor people who invested there savings into bitcoin also. Lost 75% who is going to have faith in crypto anymore.

[crazed 9.6]

there was a reason why I added the thing about sharks and riptides was because a cryptocurrency pioneer named Nikolai Mushegian was found dead a couple weeks ago..


'A brilliant young cryptocurrency pioneer named Nikolai Mushegian tweeted on Oct. 28 that intelligence agencies were going to murder him — and was found dead on a Puerto Rico beach hours later.'

“*** and ******* are running some kind of sex trafficking entrapment blackmail ring out of Puerto Rico and Caribbean islands,” Mushegian, a developer of blockchain-based decentralized finance platforms who wanted to end global banking corruption, tweeted at 4:57 a.m. “They are going to frame me with a laptop planted by my ex [girlfriend] who was a spy. They will torture me to death.”

"The 29-year-old then left his $6 million beach house in the luxe Condado area of San Juan, Puerto Rico, for a walk. A little after 9 a.m., a surfer off Ashford Beach, a spot considered so rife with riptides that local hotels warn against ocean swimming, discovered Mushegian’s body in the waves. He was wearing his clothes and had his wallet on him, sources say."



I should add that no foul play is suspected, pending autopsy results.
Why he went in the water with his clothes on is unknown :eek:

[crazed 9.6]

A short seller and a trusted crypto-currency analysist and legendary fraud sniffer Marc Cohodes, tried exposing FTX as far back as July 2022
He knew it was a scam and he is just a guy doing his own investigating. Makes you wonder how others could not know (spoiler: they did know).


https://app.hedgeye.com/insights/122943-marc-cohodes-keith-mccullough-hedgeye-investing-summit%20

*Skip to the 34:40 minute mark to watch Marc Cohodes' blistering, excoriating attack of FTX to Hedgeye CEO Keith McCullough MADE ON OCTOBER 11... a month before the shit hit the fan.


and here's Tucker Carlson's take on the whole thing

https://rumble.com/v1vhniu-tucker-ftxs-tic-tac-toe-problem-reaction-solution.html

[realdeal]

Tuckers the best, the pelosi michael jackson clip is one of his better takes. lmao